As I unveil our electronic commerce initiative, I am also pleased to
announce that I signed a Proclamation that today implements the
Information Technology Agreement concluded at the World Trade
Organization in Geneva in March. This historic trade agreement will
cut to zero tariffs on a vast array of computers, semiconductors and
telecommunications technology by the year 2000. Trade in these goods
covers more than $500 billion in global trade. These products are the
essential building blocks of the Information Superhighway. Combined
with the entrepreneurial spirit of people here and throughout the world,
they will drive electronic commerce and communication in the 21st
century.

Every year, we sell $100 billion in information technology that
supports almost 2 million jobs in the United States. Eliminating
tariffs on these goods will amount to a $5 billion cut in tariffs on
American products exported to other nations. For example, in India and
Thailand tariffs on computers are eight times higher than in the United
States. These tariffs will be eliminated, allowing American products
to compete on a more level playing field.

America leads the world in information technology. This agreement
will create extraordinary new opportunities for American business and
workers, so the American people can reap the rewards of the global
economy as we enter the new century.